Intravenous (“IV”) fluid delivery systems are used to deliver fluids (e.g., medicines, transfusions, etc.) to patients at controlled rates. To accurately control IV fluid delivery, an open-loop control system may be used. An open-loop control system includes a processor that varies the speed of a relatively accurate fluid pump used to infuse a medicinal fluid into a patient based upon a predefined algorithm and as a function of various parameters, such as temperature, fluid type, and desired flow rate. These open-loop, processor-controlled pumping systems are generally expensive and complex. Moreover, compensation for variations in pump accuracy must be employed in such systems to achieve an acceptable level of accuracy. The rate of fluid delivery is also affected by the precision of disposable components used in the fluid path that conveys the fluid to the patient. Open-loop control systems are not capable of compensating for variations in the internal diameter and material hardness of fluid lines and pumping components, which may change over time as the components are repeatedly stressed. As a result, higher cost disposable components with tight tolerances must be used in such systems to avoid a loss of accuracy.